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aura silver resources inc (AUU) Details

Aura Silver Resources Inc., an exploration stage junior mining company, engages in the identification, acquisition, evaluation, and exploration of precious metal deposits in North America. The company primarily explores for gold and silver, as well as base metal deposits, such as copper, lead, and zinc. It holds 73% interests in the Taviche project located San José mining district in Oaxaca, Mexico; and 100% interests the Greyhound project in the Churchill region of Nunavut, Canada. The company is headquartered in Manotick, Canada.

aura silver resources inc (AUU) Key Developments

Aura Silver Resources Inc. announced that it is in receipt of a land use permit issued by Aboriginal Affairs and Northern Development Canada on June 15, 2015, which is valid for a two year period to June 14, 2017. The LUP was issued following an environmental screening of the proposed Greyhound project drill program by the Nunavut Impact Review Board that determined that the new LUP did not change the general scope of the original project activities previously in place. Further to this development, the company has received notice from Agnico Eagle Mines Limited that they will commence drilling on the Greyhound project, Nunavut by August 2015. A collaborative work effort has been completed in order to prioritize drill targets for the 2015 drill program at the Greyhound property. The gold, silver and base metal drill targets identified are based upon the company's prior data and analysis and Agnico Eagle's interpretation of this data as well as the company's own interpretation of results from the 2014 field programs. Based on a comingling of both partners' analyses the company has established priority silver and gold targets in the Aura Lake area which are consistent with the company's previous targets which remain undrilled. Further, the Dingo prospect, which is located to the northeast of Aura Lake and just east of the all-weather road which leads to the Meadowbank mine further north, has yielded a gold target within a structurally complex area and a base metal, (specifically a copper target), defined by an extensive surface gossan. The company has been engaged in the exploration of this Archean Greenstone Belt focused on gold and silver since 2006. This belt of ancient and volcanic rocks is typical of many such belts throughout the Canadian Shield. As such, it was considered from the outset to have serious potential for gold, silver and base metal mineralization.

Aura Silver Resources Inc. Provides Update on Activities at its Greyhound Property in Nunavut, Canada as Well as Its East Taviche Property in Oaxaca State, Mexico

May 5 15

Aura Silver Resources Inc. provided an update on activities at its Greyhound property in Nunavut, Canada as well as its East Taviche property in Oaxaca State, Mexico. Following the completion of Phase 1 drilling in 2014, the Company has had numerous strategic planning sessions with its partner Agnico Eagle Mines Limited to determine the year two drilling program. Total expenditures incurred by Agnico Eagle during Phase 1 were approximately $262,000, which exceeded the first year spending requirement and were focused on the drilling of 8 holes and a rock sampling program. Phase 2 expenditures required to comply with the ongoing earn-in requirement under the existing option agreement are required to be a minimum of $500,000. It is anticipated that the 2015 field program will be focused on the high priority targets identified. Details of the 2015 drill plan are currently being finalized and will be announced when available. It is anticipated that a drill rig and field crew will mobilize to the property no later than August. The Greyhound property was first prospected by an exploration team led by Paul Pitman, Manager of Canadian Operations and Eric Craigie, non-executive Director of Aura Silver in the mid 1990's. Subsequent work on the property by Aura Silver identified numerous high grade gold and silver surface samples. With the expertise of Agnico Eagle' geologists a drill program has been outlined to confirm the potential for both a gold and a silver resource at Greyhound. Aura Silver's claims cover an Archean greenstone belt in the White Hills Lake area just 38 kilometres north of the town of Baker Lake. The property straddles the all-weather road which extends from Baker Lake to Agnico Eagle's Meadowbank Mine some 32 kilometres to the north of the property. This Archean bi-modal volcanic sequence is capped by a distinct and laterally extensive exhalite unit comprised of chert and banded iron formation that is underexplored with only minimal recent drilling. The company has determined that the geologic structure hosts drill targets that show the potential for significant success with the upcoming drill program.

Aura Silver Resources, Inc. Auditor Raises 'Going Concern' Doubt

Apr 27 15

Aura Silver Resources, Inc. filed its Annual on Apr 27, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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